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Bush says U.S. economy will be fine in long run

Mon Oct 6, 2008 3:15pm EDT

CINCINNATI, Oct 6 (Reuters) - U.S. President George W. Bush said on Monday it would take time for the $700 billion rescue plan to have an effect on the U.S. financial system but that in the long run the American economy will be "just fine".

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"I signed the bill on Friday. It's going to take time for the Treasury Department to put a plan in place that won't waste your money and that will achieve the objectives," Bush said.

"I believe in the long run this economy is going to be just fine," he said at the beginning of a speech on judicial nominees. (Reporting by Tabassum Zakaria; Writing by Jeremy Pelofsky; Editing by James Dalgleish)

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